Tankless Water Heater Cost: 5 Factors to Consider
When buying a new tankless water heater, one of the most important considerations is the cost. From installation to repair costs, the price of a tankless water heater can vary depending on the type of unit, location, and the yearly usage. Here, we look at five factors you should consider when weighing up the cost of a tankless water heater for your home in Austin, TX (78717).
1. Installation Cost
Installing a tankless water heater involves connecting the unit to the water and gas supply. This requires specialized tools and skills, so is best done by a registered and trained professional like those at Abacus residential and commercial plumbers. An average installation cost for a tankless water heater can range from $1,400 to $2,500, depending on the complexity, type, and where the unit is located.
2. Cost of Equipment
The second factor to consider when weighing up the cost of a tankless water heater is the cost of the equipment. Tankless water heaters are typically more expensive than traditional water heaters, costing between $500 to $1,500 for an entry-level model.
3. Cost of Operation
The cost of operating a tankless water heater is usually lower than a traditional storage tank heater due to its high energy efficiency ratio. Tankless water heaters may use up to 25% less energy than regular water heaters. This translates to a significant drop in water heating bills as tankless water heaters only heat water when it’s needed.
4. Cost of Repair
Since tankless water heaters are more efficient than conventional water heaters, they are naturally more reliable. Most units available on the market have a 10- to 20-year lifespan and require very little maintenance. In the event of a repair, Abacus’ team of licensed plumbers can diagnose and fix the problem quickly and efficiently.
5. Cost of Service
No one likes having to repair their water heater, but when it does happen, it’s important to hire professionals who can service the unit quickly and efficiently. Check to see if a company like Abacus offers a service plan as it is often the most cost-effective way to get your water heater serviced and repaired.
Tankless water heaters can be a great choice for homeowners interested in energy-efficient and reliable hot water. The cost of a tankless water heater can vary depending on the different factors mentioned above.When selecting a tankless water heater, it is important to consider all of these factors in order to make the most cost-efficient choice.